Last updated September 5th, 2025

Odoo still matches Bills and Invoices - we just don't have a "match invoices & payments" reconciliation model type any more.

Odoo follows these steps when assigning or suggesting matches between bank statement line transactions and Invoices / Bills / Payments / Journal Entries.

1. PARTNER MATCHING

Assign a Customer or Vendor using reconciliation models that you have created:

• if the statement line LABEL contains AMAZON WEB SERVICES assign AMAZON as the Vendor
• if the statement line TRANSACTION DETAILS (if supported by your bank) contains ODOO ERP SL assign ODOO as the Customer

Suggest a Customer or Vendor

• if the statement line BANK ACCOUNT NUMBER matches one found on a Customer / Vendor (CAMT, MT90, OFX imports)
• if the statement line PARTNER NAME matches one found on a Customer / Vendor
• if the statement line PARTNER NAME matches the last three previously reconciled statement lines we use the Customer / Vendor you assigned

Assigned Partners show in black, suggested Partners show in grey 

2. IDENTICAL REFERENCE MATCHING

Assign an Invoice / Bill / Payment / Journal Entry based on End to End ID – (SEPA and some SWIFT and CHAPS transfers – if supported by your bank) – based on an exact and complete match.

Associate a Payment (where Outstanding Accounts are used) based on an exact and complete match between the Payment MEMO and statement line LABEL.

3. REFERENCE MATCHING

Assign an Invoice / Bill / Payment / Journal Entry based on NUMBER / REFERENCE / PAYMENT REFERENCE information found in the statement line LABEL based on an exact subset match (only if the subset of something in the LABEL is found exactly once).  

4. AMOUNT MATCHING

Assign an Invoice / Bill / Payment / Journal Entry based on the amount, as long as the Customer or Vendor has already been assigned. We also match all open Bills / Invoices if the statement line AMOUNT equals the TOTAL AMOUNT DUE.  Early payment discount rules are also considered.

Assign based on 3% tolerance – to account for merchant fees, rounding differences, user error (entering .23 instead of .32), and payment in another currency.

5. RECONCILATION MODEL MATCHING

Assign an Account based using reconciliation models that either

YOU have created:

• if the statement line LABEL contains "fee" and the amount is less than $25, assign 620000 Bank Fees.

Or Odoo has created:

• learning from past manual reconcilation patterns (at least two the same), assigning to suggest until you automate the model. 

You can also still create reconciliation models to assign a Partner - enter what Odoo should look for in the statement line LABEL and create a single Counterpart item with the Partner and no Account selected - in this case we search both the LABEL and TRANSACTION DETAILS.

Automatic reconciliation runs by default during statement line creation / import; during bank synch; and also once a day based on the Try to reconcile automatically your statement lines Scheduled Action (available in Developer Model via Settings --> Technical --> Automation --> Scheduled Actions).  You can adjust this to run more frequently or even run it manually on demand.

Notes: if you are creating Customer Payments in Odoo, we recommend ADDING to the MEMO field, as Odoo will scan it for the same REFERENCE that we automatically add there when trying to reconcile your bank statement. Just add the check number, wire reference, etc that you get from your Customer to the end.

Creating payments in Odoo is optional, and you will see the Invoice move to "In Payment" until the deposit is reconciled with a bank statement line - which happens automatically if you keep what Odoo sends to the Memo field during payment creation. You won't see any created payments when trying to reconcile manually, just Invoices / Bills / Journal Entries.

Never journal directly into your bank account, use the liquidity transfer account for all manual journal entries: Opening Balances / Internal Transfers / Payroll / Daily Sales / Petty Cash / Owner Draw / Paid in Capital / Sales Tax / Income Tax - etc.  The liquidity account holds bank credits and debits until they can be reconciled (when the liquidity account balance is cleared).

A list of registered Odoo Accounting & Finance experts is at https://odoo.com/accounting-firms if you want to outsource some or all of your bookkeeping.

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